Cesca Therapeutics Provides Commercialization Update For Its X-Series™ Product Line
RANCHO CORDOVA, Calif., Sept. 5, 2018 /PRNewswire/ -- Cesca Therapeutics Inc. (NASDAQ: KOOL), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, announced today that is has sold X-LAB™ and/or X-WASH® systems to four initial institutions/entities, and expects to end 2018 with a significant increase in the number of new customers. Since the first formal exhibition of its X-Series platform in May 2018, the Company has received consistently positive feedback and interest in the product line. Cesca will include a commercialization update during its presentation at the upcoming HC Wainwright conference, on September 6, 2018.
"Although sales of the X-Series instruments are one-time transactions, each results in recurring sales of single-use cartridges. We anticipate between 2,500 and 3,500 cartridge sales from customers acquired in 2018," stated Chris Xu, PhD, chief executive officer of Cesca.
Dr. Xu continued, "We are very encouraged by the response to our X-Series platform and feel that the value is clearly resonating -- evidenced by the signing of these four initial customers, despite not yet having a direct sales force in the field. Meanwhile, we are currently in advanced discussions with potential distribution partners for worldwide coverage. The need for automated cell processing systems is great, and we are moving proactively to expand our footprint within the industry. We look forward to sharing our progress as we move forward."
Cesca's X-Series product offering currently includes:
- X-Lab for Cell Isolation – a semi-automated, functionally-closed, ficoll-free system for the rapid isolation of different target cells from various sources, including whole blood, bone marrow aspirates and leukopheresis products.
- X-Wash for Washing and Reformulation – a semi-automated, functionally-closed system that separates, washes, and volume-reduces frozen cells or cell cultures to a programmable volume. The cells of interest never leave the cartridge and can be washed multiple times under lower centrifugation speeds eliminating the creation of cell pellets.
- X-Mini™ cell selection kit for Research Only. The X-Mini isolates targeted cell subsets from blood and blood products, and is the first of several off-the-shelf kits
About Cesca Therapeutics Inc.
Cesca Therapeutics Inc. (the "Company") develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. Its device division, ThermoGenesis Corp., provides a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology. The Company is developing an automated, functionally-closed CAR-TXpress™ platform to streamline the manufacturing process for the emerging CAR-T immunotherapy market.
Forward-Looking Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. A more complete description of risks that could cause actual events to differ from the outcomes predicted by Cesca Therapeutics' forward-looking statements is set forth under the caption "Risk Factors" in Cesca Therapeutics' annual report on Form 10-K and other reports it files with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.
Company Contact:
Cesca Therapeutics Inc.
Wendy Samford
916-858-5191
ir@cescatherapeutics.com
Investor Contact:
Rx Communications
Paula Schwartz
917-322-2216
pschwartz@rxir.com
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SOURCE Cesca Therapeutics Inc.
